U.S.: Alkyd Resins Market 2024

Alkyd Resins Market Size in the U.S.

The U.S. alkyd resins market totaled $X in 2022, surging by 6% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the near future.

Alkyd Resins Production in the U.S.

In value terms, alkyd resins production totaled $X in 2022. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 13%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Alkyd Resins Exports

Exports from the U.S.

In 2022, approx. X tons of alkyd resins in primary forms were exported from the United States; with a decrease of -22.4% compared with the previous year's figure. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 24% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell sharply in the following year.

In value terms, alkyd resins exports fell notably to $X in 2022. In general, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by 182%. As a result, the exports reached the peak of $X, and then contracted significantly in the following year.

Exports by Country

Canada (X tons) was the main destination for alkyd resins exports from the United States, accounting for a 55% share of total exports. Moreover, alkyd resins exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), threefold. The Dominican Republic (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled -2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+8.0% per year) and the Dominican Republic (+15.2% per year).

In value terms, Canada ($X) emerged as the key foreign market for alkyd resins in primary forms exports from the United States, comprising 47% of total exports. The second position in the ranking was held by Mexico ($X), with a 19% share of total exports. It was followed by China, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+14.0% per year) and China (+35.9% per year).

Export Prices by Country

In 2022, the average alkyd resins export price amounted to $X per ton, with a decrease of -23.9% against the previous year. Over the period under review, the export price, however, continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2021 an increase of 133% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+31.8%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into the U.S.

In 2022, alkyd resins imports into the United States surged to X tons, increasing by 80% compared with the year before. Overall, imports continue to indicate a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, alkyd resins imports surged to $X in 2022. Over the period under review, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of alkyd resins imports to the United States, with a combined 74% share of total imports. The Netherlands, Brazil, the Dominican Republic, Austria, Canada and Italy lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +117.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Germany ($X) and Turkey ($X) constituted the largest alkyd resins suppliers to the United States, together accounting for 74% of total imports. Brazil, the Netherlands, the Dominican Republic, Austria, Canada and Italy lagged somewhat behind, together comprising a further 21%.

Brazil, with a CAGR of +106.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average alkyd resins import price stood at $X per ton in 2022, increasing by 14% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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